Ceres Power (LON:CWR) Stock Price Up 11.8% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares were up 11.8% during trading on Wednesday . The stock traded as high as GBX 489.66 and last traded at GBX 485. Approximately 164,501,875 shares changed hands during trading, an increase of 1,427% from the average session volume of 10,772,590 shares. The stock had previously closed at GBX 434.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 920 price target on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank raised their target price on shares of Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Stock Down 7.2%

The stock’s 50-day moving average price is GBX 477.30 and its 200-day moving average price is GBX 454.75. The stock has a market cap of £935.62 million, a price-to-earnings ratio of -17.85 and a beta of 3.00. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.